General conditions of sales and delivery Proshar Europe BV

established in (2181 MG) Hillegom, at the Satellietbaan 13E Netherlands

Article 1 – General

1.1 These General Terms and Conditions (hereinafter: Conditions) apply to all quotations,
assignments and/or agreements between PRO­SHAR EUROPE BV and its Clients, for the sale and delivery
of products and/or conducting services and their implementation. Deviations or changes to these
conditions must be confirmed in writing by PRO­SHAR EUROPE BV and shall be applicable only for the
respective quotation/assignment/agreement.

1.2 “Client” is defined below, each person or legal entity to which products are delivered by PRO
SHAR EUROPE BV and/or services are conducted, including its representatives, agents, successors and
assigns.

1.3 Any General Terms and Conditions used by the Client are not binding for PRO­SHAR EUROPE BV,
unless PRO­SHAR EUROPE BV has consented to this in writing.

1.4 If PRO­SHAR EUROPE BV has agreed in writing with the applicability of one or more deviating
conditions, these conditions remain otherwise unaffected.

1.5 If and as far as any (partial) provision in these conditions shall be deemed invalid and/or
unenforceable, the remainder of these conditions remain otherwise unaffected, and, instead of the
void and/or unenforceable provision, a provision which applies as closely as possible to the void
provision will be established.

Article 2 – Agreement and changes

2.1 An assignment commissioned by the Client shall be considered by PRO­SHAR EUROPE BV as
irrevocable.

2.2 PRO­SHAR EUROPE BV is solely bound vis­à­vis the Client to an assignment placed with PRO­SHAR
EUROPE BV if and as soon as this assignment is confirmed in writing by PRO­SHAR EUROPE BV, or if
PRO­SHAR EUROPE BV has commenced with the implementation of this assignment. PRO­SHAR EUROPE BV
expressly reserves the right to determine the delivery date upon the aforesaid confirmation.

2.3 Any changes in the implementation required by the Client after placing an assignment, shall be
communicated by the Client to PRO­SHAR EUROPE BV in a timely manner and in writing. In the case of
specified assignments and/or changes in the implementation made verbally or by telephone, the Client
bears the risk as to whether the implementation thereof is correct or not.

2.4 Any Changes in an assignment commissioned by the Client, of any kind, which entail higher costs
than the original quotation provided by PRO­SHAR EUROPE BV will be borne by Client. If such changes
result in reduced costs, the Client cannot derive any rights with regard to reduction of the
purchase price. PRO­SHAR EUROPE BV may however at its own discretion decide that these changes
result in payment of a lower purchase price.

2.5 Any changes made may result in exceeding the delivery time indicated by PRO­SHAR EUROPE BV
before the changes. This cannot be invoked to the detriment of PRO­SHAR EUROPE BV.

Article 3 – Offers and price quotations

3.1 All quotations from PRO­SHAR EUROPE BV are without obligation, unless expressly stated otherwise
in the quotation. Prices are subject to change until the time of receipt of the assignment by
PRO­SHAR EUROPE BV or an order confirmation from the Client.

3.2 Descriptions and prices in quotes are made under reservation and represent only approximations.
The Client may not derive any right whatsoever from any mistakes in a quote.

3.3 The quotations of PRO­SHAR EUROPE BV are given based on the details and specifications provided
by the Client. Quotations are based on production and delivery within normal timeframes and under
normal circumstances.

3.4 Even after conclusion of the agreement PRO­SHAR EUROPE BV is entitled to amend the agreed price
if changes in market prices and/or prices increases by suppliers or other developments, such as
change of transport, raw material, material costs and labour costs, government measures, currency
exchange rates, taxes, rights, levies etc., give reason to do so. If the Client does not rescind the
agreement within 24 (twenty four) hrs after PRO­SHAR EUROPE BV has announced the price increase in
writing, the Client will be deemed to have agreed to the price increase.

Article 4 – Payment

4.1 Unless otherwise agreed in writing, payment must be made without any discount and/or deductions
and/or set­off.

4.2 Payment shall be made in cleared funds, unless another form of payment has been agreed in
writing. If the parties have agreed on payment after receipt of an invoice, payment has to be made
within a period of 14 days unless parties have agreed on another payment term in writing. The
correctness of the invoice has been established if the Client has not objected within this payment
term.

4.3 From the first date of default the Client is liable to pay interest at the rate of 1% per month
on the immediately due and payable amount, unless the legal interest rate is higher, in which case
said legal interest is payable. All (extra) judicial costs which PRO­SHAR EUROPE BV makes to obtain
extra judiciary payment – both in and out of court – from that moment shall be borne by the Client.
In that case the Client is liable to pay a compensation of 15% of the outstanding amount, with a
minimum of € 150.00 (in words: one hundred fifty euros).

4.4 If the Client has not fulfilled its payment obligations in time, PRO­SHAR EUROPE BV is
authorised to suspend the compliance of the obligations to deliver or implement the work vis­à­vis
the Client until payment has been made or proper security has been provided for this. The same shall
apply even before the other party is in default if PRO­SHAR EUROPE BV has reasonable grounds to
suspect that there are reasons to doubt the creditworthiness of the Commissioning party.

4.5 In the event of liquidation, bankruptcy, debt restructuring or moratorium of the Client or an
application for this purpose, the claims of PRO­SHAR EUROPE BV and the obligations of the
Commissioning party vis­à­vis PRO­SHAR EUROPE BV are immediately payable.

4.6 Payments made by the Client shall always be used in the first instance to settle all interest
and costs owed, in the second instance those which have been outstanding for the longest, even if
the Client states that the payment relates to a later invoice.

Article 5 – Delivery

5.1 Deliveries shall take place based on Incoterms 2010

5.2 All risks involving the goods delivered shall pass to the Client at the time of delivery. In the
context of these General Terms and Conditions delivery entails:

5.2.1. if there is an EXW delivery: the moment the loading of the products by the Commissioning
party has commenced. If loading is conducted by PRO­SHAR EUROPE BV, the risk shall pass to the
Client when the products have been loaded;

5.2.2. if there is a DDP delivery to a delivery address specified by the Client: the moment when the
products to be delivered are unloaded at the delivery address. If the unloading is conducted by the
Client or a third party appointed by the Client, the risk shall pass to the Client when the
unloading of the products has commenced.

5.3. If PRO­SHAR EUROPE BV specifies a delivery time, this will only apply by approximation and not
as a guarantee. PRO­SHAR EUROPE BV shall not be in default by a mere delay in delivery. If a delay
occurs, for whatever reason, the delivery time is extended for the duration of that delay.

Article 6 – Retention of title

6.1 All products delivered and to be delivered remain the exclusive property of PRO­SHAR EUROPE BV,
until all claims which PRO­SHAR EUROPE BV has or will acquire vis­à­vis the Client, including in any
case the claims referred to in Article 3:92, Paragraph 2 BW, are paid in full.

6.2 As long as ownership of the goods has not been transferred to the Client the latter may not
pledge or grant third parties any rights thereto, except in the ordinary course of its business. The
Client is obliged to cooperate on first request from PRO­SHAR EUROPE BV in establishing a right of
pledge on the claims that the Client acquires or will acquire on his Clients on account of
re­delivery of products.

6.3 After delivery the risk of all products delivered by PRO­SHAR EUROPE BV shall pass to the
Client. The Client is obliged to store the products that are delivered under retention of title with
due care and marked recognisably as being owned by PRO­SHAR EUROPE BV.

6.4 The provisions included under 6.1 ­ 6.3 leave the other future rights of PRO­SHAR EUROPE BV
unimpaired.

Article 7 – Return of delivered goods

7.1. Products sent to the Client by PRO­SHAR EUROPE BV may only be returned after the written
consent of PRO­SHAR EUROPE BV and in accordance with the conditions imposed by PRO­SHAR EUROPE BV.
The costs of returning of the products sent to the Client by PRO­SHAR EUROPE BV shall be borne by
the Client.

Article 8 – Quality and conformity

8.1 PRO­SHAR EUROPE BV shall ensure that all products delivered by them of the usual quality are
suitable for their purpose and meet the requirements explicitly agreed between the parties.
Drawings, technical descriptions, colour samples, samples, colours, dimensions and material
specifications, are provided by PRO­SHAR EUROPE BV in good faith and specified as precisely as
possible. This informative data is however not binding. Deviations of the delivered products margin
usual in in the industry have to be accepted and do not give the Client right to complain,
replacement, compensation for damage or any other right, unless in the Agreement a narrower margin
for deviations has been explicitly agreed.

Article 9 – Liability

9.1. Liability of PRO­SHAR EUROPE BV vis­à­vis the Client for incorrect performance or any other
shortcoming of PRO­SHAR EUROPE BV, or for (consequential) damage to the Client or third parties, on
any grounds whatsoever (except in the event of intent or gross negligence) is explicitly excluded.
The Client is obliged to indemnify PRO­SHAR EUROPE BV and to compensate against all claims from
parties commissioned by the Client vis­à­vis PRO­SHAR EUROPE BV in respect of the performance of the
agreement, unless there is intent or gross negligence on the part of PRO­SHAR EUROPE BV.
Furthermore, the Client is obliged to indemnify PRO­SHAR EUROPE BV and to compensate against all
claims from parties commissioned by the Client that are related to or arise from the Client’s use of
the products delivered, or services conducted, by PRO­SHAR EUROPE BV.

9.2. Any employees of PRO­SHAR EUROPE BV and/or third parties commissioned by PRO­SHAR EUROPE BV
held liable for the performance of the agreement can appeal to the provisions in this article, as if
they were a party to this agreement between PRO­SHAR EUROPE BV and the Client.

Article 10 – Intellectual property rights

10.1. PRO­SHAR EUROPE BV is and remains entitled to all rights of intellectual property which are
vested in or are related to or belong to the products made by, or commissioned by, PRO­SHAR EUROPE
BV and the underlying Documents made by, or commissioned by, PRO­SHAR EUROPE BV and such. All unless
parties have explicitly agreed otherwise in writing.

Article 11 – Suspension, termination, force majeure

11.1. If the Client fails to fulfil any obligation in any way vis­à­vis PRO­SHAR EUROPE BV, as well
as in the event of an application for a moratorium, is granted (provisional) moratorium, application
for bankruptcy, report or claim, bankruptcy, liquidation or suspension of the business of (a part
of) the company of the other party, is PRO­SHAR EUROPE BV, without prejudice to its other future
rights and without any obligation for compensation, without notice of default or judicial
intervention authorised to:

­- suspend the performance of the agreement until payment of all that the Client is owed to
PRO­SHAR EUROPE BV has been sufficiently secured; and/or

- to suspend all its own payment obligations ; and/or

- to rescind any agreement with the Client in whole or in part;

all without prejudice to the Client’s obligation to pay for products and/or conducted services
already delivered and without prejudice to the other rights of PRO­SHAR EUROPE BV, including that
for compensation.

11.2. In the event of inability on the part of PRO­SHAR EUROPE BV the performance of the agreement
due to force majeure, PRO­SHAR EUROPE BV is entitled to suspend the performance of the agreement or
to rescind the agreement in whole or in part without judicial intervention without being liable to
pay damages.

11.3. Force majeure applies to events of any independent circumstance that is beyond the control of
PRO­SHAR EUROPE BV as a result of which the performance of the agreement is permanently or
temporarily impossible, as well as, in so far as they are not already included, war, risk of war,
civil war, riot, strikes, fire and any other operational failures in the company of PRO­SHAR EUROPE
BV or its suppliers. Force majeure applies to events when a supplier, from which PRO­SHAR EUROPE BV
purchases products with regard to the performance of the agreement with the Client, remains in
default with temporary and/or proper delivery.

Article 12 – Transfer of rights and obligations

12.1. The Client shall not transfer his rights and/or obligations under any agreement with PRO­SHAR
EUROPE BV to third parties or to provide security against third­party claims without the prior
written consent of PRO­SHAR EUROPE BV.

Article 13 – Applicable law and jurisdiction

13.1. These conditions, as well as on all affairs between PRO­SHAR EUROPE BV and the Client are
governed by Dutch law.

13.2. Insofar as the rules of mandatory law do not prescribe otherwise, in the first instance the
District Court in Amsterdam shall have exclusive jurisdiction to try any disputes arising from (the
performance of) any agreement between PRO­SHAR EUROPE BV and the Client as well as disputes
concerning (any provision in) these conditions, also to seek provisional relief.

Article 14 – Dutch text prevails

14.1. In the event of a conflict between a translation and the Dutch version of these General Terms
and Conditions the Dutch version prevails.